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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Wall Street trades student loansStudent loans are a big business. The U.S. has amassed more than $1.7 trillion in outstanding student debt. But while more than 43 million Americans are currently holding student debt, many are unaware of what exactly happens with their loans after they are issued. Billions of dollars worth of student loans are packaged and sold as assets known as SLABS to some of the biggest investors in America. So what exactly are SLABS and how do they help Wall Street profit from student loans?

Locations: U.S, America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how Kia went from being an underdog to one of the most popular car brands in the worldFor many of its early years in the U.S., Kia was a low-cost value brand, and its cars were often criticized for poor quality, reliability and design. But with a brush with bankruptcy and a 51% stake investment by Hyundai Motor Group, Kia grew fast, started winning awards and became one of the most desired car brands. Sales have increased threefold in the U.S. over the past 20 years. But growing too fast and catering to a higher-income customer comes with a fair share of challenges.

Persons: Kia Organizations: Hyundai Motor Group, Kia Locations: U.S

☆ Why U.S. immigration policies may be hurting economic growth
▼ + stars: | 2023-08-26 | by ( Lindsey Jacobson | Christina Locopo | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy U.S. immigration policies may be hurting economic growthIn 1986, Congress passed the Immigration Reform and Control Act, which made it extremely difficult to hire people to work without authorization in the U.S. Today the U.S. has more than 9 million open roles and only 5.8 million job seekers, according to the Bureau of Labor Statistics. Meanwhile, millions of people are in limbo, waiting to immigrate to the U.S. and even more are likely to come as climate change drives more people to migrate. While immigration alone is unlikely to fix the worker shortage, many advocates think it could help alleviate the labor crisis.

Organizations: Immigration Reform, Control, U.S ., Bureau of Labor Statistics Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Constellation Brands bet big on Modelo. And won against Bud LightConstellation Brands, which owns the U.S. licensing rights to Mexican beers like Modelo, Corona, Victoria and Pacifico is on fire. For the first time in 22 years, Modelo Especial beat out Bud Light as the country's top-selling beer in May. Constellation reported revenue of $2.5 billion in the quarter ending May 31, a 6.4% increase from the same quarter last year. The company's beer business delivered double-digit net sales growth of 11%.

Persons: Bud, Bud Light Organizations: Constellation Brands, Modelo, Bud Light Constellation Brands, Pacifico, Modelo Especial, Constellation Locations: Corona, Victoria

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Americans can't stop living paycheck to paycheckAlmost three-quarters, 72%, of Americans say they aren't financially secure given their current finances and more than a quarter of Americans said they'll likely never be financially secure, according to a survey by Bankrate. With well over half of Americans living paycheck to paycheck, many are failing to meet some of their modest financial goals. So how did it become so difficult to be financially secure in America, and what can you do about it?

Persons: they'll Locations: America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why the U.S. is having so few roundaboutsResearch shows roundabouts reduce crashes, clear up congestion and can save cities money. But America has a fraction of the roundabouts that far smaller countries like France, Spain and the United Kingdom have. Some states are adopting them, and the small town of Carmel, Indiana, now leads European cities. So why haven't more U.S. cities done this? Are they are all they are cracked up to be?

Locations: America, France, Spain, United Kingdom, Carmel , Indiana

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy airlines are investing millions on bigger and fancier seatsAirlines have been spending big to add more space and comfort to seats on board planes. According to AeroDynamic advisory, airplane seats were a $2.6 billion dollar market globally in 2022, almost half of $6.2 aircraft interiors market. U.S. airlines like American, Delta and United have been adding more premium seats to their fleets. CNBC got an inside look at how seats are made, and to find out why they are becoming an increasingly important part of an airline's business.

Organizations: CNBC Locations: U.S, Delta

☆ Survivor stories: Victims of Maui wildfires tell of watching Lahaina burn down
▼ + stars: | 2023-08-11 | by ( Alaa Elassar | ) edition.cnn.com time to read: +11 min

CNN“The smoke started getting thicker and blacker,” Kaleiopu recalled. An emergency alert soon reached him by phone, urging Lahaina residents to flee: The smoke had given way to flames. Not far away on the ocean, boat captain Christina Lovitt soon found herself on a skiff, also trying to help. Stymied from anchoring by 70- to 80-mph gusts, they drifted and eventually were pulled onto a 120-foot boat, Lovitt recalled. Aguiran watched his parents’ house burn down, one of five family homes destroyed, Tacderan said, and among more than 270 structures declared impacted so far by the fire in Lahaina.

Persons: Phena Davis, “, Dustin Kaleiopu, Hurricane, ”, ” Kaleiopu, Davis, Bryan Aguiran, ” Aguiran, Teri Lawrence, Lawrence, you’re, Christina Lovitt, ” Lovitt, Lovitt, who’d, Reza Danesh, ’ ”, Danesh, He’d, Tiffany Kidder Winn, Aguiran, Ella Sable Tacderan, Tacderan, ‘ You’ll, I’m, I’ve, grandpa, ” Davis, “ We’re Organizations: CNN, “, Coast Guard, Hawaii Army National Guard, Hawaii National Guard, Reuters, MODO Mobile Locations: Lahaina, Maui, Kaanapali, Hawaiian, That’s, “, ”, New York, Wailuku Maui, Huelo

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReddit's rise and recent revoltsReddit has grown to become one of the most popular websites in the world, but the company's recent API price increases have put many third-party Reddit apps out of business, leading to protests from the company's contingent of volunteer moderators. As Reddit looks to go public, ongoing tension between its leadership team and the Reddit community at large could impact its valuation.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow China's satellite navigation technology is challenging U.S. GPSFor decades, the United States has been a leader in satellite navigation technology thanks to GPS. But in 2020, China launched the last satellite needed to complete its own global system called Beidou. Since then, the influence of Beidou has grown, with an estimated 1.1 billion people now using the system. Experts say Beidou underpins not only China's military ambitions, but is also spurring economic growth in the country and increasing its diplomatic leverage.

Organizations: GPS Locations: United States, China, Beidou

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy warning labels are so terrifyingU.S. consumers seem to be inundated with scary warning labels, but the fear may be necessary. Research shows people don't pay attention unless these labels elicit strong emotion. Experts say the rise in warning labels over the past several decades may be backfiring due to desensitization of the potential risks products carry. Watch the video above to learn more about the increase in scary warning labels and why experts are concerned it's not enough.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what's stopping cities from converting offices into apartmentsSome U.S. mayors are loosening up rules that determine how developers convert office buildings into apartment complexes. The conversion trend sped up in the 2020s, as the Covid pandemic remote work boom reshaped cities. Declines in office leasing activity is constraining funding for services like education and transit, leading some local leaders to prioritize conversion of dated buildings. These rule changes may create some additional housing supply in regions like the U.S. East Coast.

Organizations: U.S . Locations: U.S, U.S . East Coast

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerica's $2 billion peanut butter industryPeanut butter is a $2 billion dollar industry in the U.S. and has continued to increase profits yearly as purchases grow and prices rise, though peanut butter's price has remained low. Peanut butter has has a 90% household penetration rate, meaning it is seen in most American households. With that legacy, it's a delicate balance for top brands to innovate while still being consistent with expectations. Three brands hold the top market share — Jif, Skippy and Peter Pan.

Persons: Skippy, Peter Pan Locations: U.S

☆ A massive new genetic database of canine tumors reveals that dog and human cancers are more similar than previously thought and may speed up cancer treatment for both
▼ + stars: | 2023-07-14 | by ( Maiya Focht | ) www.businessinsider.com time to read: +4 min

A new study shows human and dog cancers share a high degree of genetic overlap. The study comes from a company that uses genetic information and AI to find biologic cancer treatments. A massive new database of genetic information from dog tumors aims to use what we know about dog cancer to better treat it in humans. She wants to use AI to analyze the database's genetic information to match a dog's tumor to the type of treatment that's most effective. Using FidoCure, they selected dogs with a type of cancer that genetically mirrored human breast cancer.

Persons: Christina Lopes, Lopes, Gene, Eribulin, Eisai, Gerald Post Organizations: Service, National Cancer Institute, University of Georgia, FDA, Reuters, Eisai, NIH, FidoCure Locations: Wall, Silicon

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Citigroup is planning its comebackSince the company's collapse during the 2008 recession, Citigroup's stock has continuously struggled, with shares falling more than 30% over the past five years. In response, Jane Fraser, the CEO of Citigroup, announced a bold shift in company strategy, doubling down on wealth management while exiting 14 consumer markets outside of the United States since April 2021. So has Citi's bet paid off and can the onetime financial colossus return to its former glory?

Persons: Jane Fraser Organizations: Citigroup Locations: United States

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat happened to Skype? At its height, Skype – a telecommunications app founded by Scandinavian entrepreneurs Niklas Zennström and Janus Friis, and Estonian engineers Ahti Heinla, Priit Kasesalu, Jaan Tallinn and Toivo Annus – had 560 million registered users. In 2005, just two years after its launch, the app was acquired by eBay. Microsoft then acquired Skype in 2011 for $8.5 billion. Now that Microsoft has rival Teams, the future of Skype is uncertain.

Persons: Niklas Zennström, Janus Friis, Ahti Heinla, Priit Kasesalu, Jaan Tallinn, Toivo Annus –, what's Organizations: Skype, eBay, Microsoft, CNBC Locations: Toivo, Silver

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside America's largest asphalt maker and road paver94 percent of the roads in the U.S. are paved with asphalt. Companies like CRH - the largest road paver in America - are newly flush with billions from the US government which is the largest buyer of asphalt in the country. Some in the business say it's the golden age of infrastructure. The Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure law, is adding $1.2 trillion, a 40% to 50% increase over the previous FAST Act. But there are some strings attached.

Organizations: Infrastructure Investment, Jobs Locations: U.S, America

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy New York City is more expensive than LondonNew York ranked one of the most expensive cities in the world in 2022 whereas London ranked 28th, according to Worldwide Cost of Living 2022 from Economist Intelligence. It would cost approximately $9,500 US dollars to maintain the same lifestyle as about $7,200 dollars would get you in London, according to data collection project Numbeo. Watch the video above to learn more about the cost of living in New York City and London and why people choose to live there despite the inflated price tag.

Organizations: London New York, London, Economist Intelligence Locations: York City, London, New York City

☆ A psychologist says she broke down in tears when she learned the horrors that 2 castrated Ukrainian soldiers endured, says report
▼ + stars: | 2023-06-18 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

A Ukrainian psychologist described the horrors two soldiers went through in a new report by The Times. Anzhelika Yatsenko cried when she learned the young men were castrated while prisoners of Russia. It was "the first time I behaved not like a professional psychologist," she told The Times. The soldiers struggled to tell their psychologist, who specializes in troubled young men, what happened to them. While sexual violence against women and girls is widely covered in the context of war, sexual violence against men is less well-documented.

Persons: Anzhelika Yatsenko, —, Christina Lamb, Yatsenko, I'd Organizations: The Times, Times, Service, Sunday Times, UN Locations: Ukrainian, Russia, Ukraine, Poltava, Russian

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Charles Schwab became the largest publicly traded U.S. brokerageCharles Schwab is the largest publicly traded brokerage business in the U.S., a leading provider for financial advisors, a top ETF asset manager and one of the biggest banks. It benefited from the retail investing boom over the pandemic, and it's now facing the consequences of the Fed's aggressive rate hikes. Watch the video above to learn more about how Charles Schwab battled the ever-evolving financial services market from fees to fintech, and how the reward doesn't come without the risk.

Persons: Charles Schwab Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Samsung became the world's second biggest advanced chipmakerSamsung may be known for its phones, TVs and appliances, but it's also been the leader in memory chips for more than three decades. Now, as memory prices continue to fall, it's doubling down on manufacturing chips for outside customers, with a $17 billion new chip fab in Texas and new $228 billion cluster in South Korea. CNBC got a rare look inside Samsung's chip business to bring you the untold story of how it became the world's second biggest advanced chipmaker, with plans to catch TSMC.

Persons: it's Organizations: Samsung, CNBC Locations: Texas, South Korea

☆ Pampered pets unleash booming market: podcast
▼ + stars: | 2023-06-06 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: 1 min

NEW YORK, June 6 (Reuters Breakingviews) - The pet craze brought on by the pandemic has become a boon for companies that sell products to dog-loving owners. FidoCure founder Christina Lopes explains to The Exchange podcast how this might be able to help humans, too. Listen to the podcastFollow @thereallsl on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Katrina HamlinOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Christina Lopes, Katrina Hamlin Organizations: YORK, Reuters, Exchange, Twitter, Thomson

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow new lithium extraction tech could help meet EV targetsA suite of new, but largely unproven, technologies known as direct lithium extraction could revolutionize lithium mining from brine, making it more efficient and sustainable and eliminating the need for large evaporation ponds. A number of companies including EnergyX, Lilac Solutions, and Standard Lithium are entering the DLE market and getting ready for commercial implementation across South America and the U.S., while automakers like BMW, GM and Ford are investing.

Organizations: EV, Solutions, South, BMW, GM, Ford Locations: South America, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy inflation is so stickyEverything is more expensive. Overall consumer prices are about 13% higher than they were in April 2021 and Americans are feeling the pain. Inflation, or the rate prices are increasing in the general economy, has been a persistent problem the past two years. The Federal Reserve had hoped inflation would normalize as the pandemic's volatility subsided, but prices have stubbornly stayed well above its 2% goal. Watch the video above to learn why inflation sticks around and what we can do about it.

Organizations: Federal Reserve

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's how banks finance credit card rewardsRewards credit cards are everywhere and Americans love them. About 90% of all credit card spending is on rewards cards. In 2019, consumers received about $35 billion in rewards. But how are banks paying for all these perks? Some economists claim there's an annual redistribution of more than $15 billion from less to more educated, poorer to richer and high- to low-minority areas, widening existing disparities.

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